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Program Trading Accounts
For 55.7% of NYSE Volume

Updated Oct. 28, 2005 12:01 a.m. ET

NEW YORK -- Program trading in the week ended Oct. 21 accounted for 55.7%, or an average of 1,051.2 million shares daily, of New York Stock Exchange volume. Brokerage firms executed an additional 697.6 million daily shares of program trading away from the NYSE, with 0.8% of the overall total on foreign markets. Program trading is the simultaneous purchase or sale of at least 15 different stocks with a total value of $1 million or more.

Of the program total on the NYSE, 9.8% involved stock-index arbitrage. In this strategy,...